Business & Finance
Business and Finance
Business and Finance
Wed, December 4, 2024 
[ 09:01 PM ] - Bill Williamson
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ROYAL BANK OF CANADA REPORTS FOURTH QUARTER AND 2024 RESULTS
- Royal Bank of Canada11 (TSX: RY) (NYSE: RY) today reported net income of $16.2 billion for the year ended October 31, 2024, up $1.6 billion or 11% from the prior year. Diluted EPS was $11.25, up 9% over the prior year reflecting growth across each of our business segments.
The Royal Bank of Canada (RBC) reported its fourth-quarter earnings, showcasing a profit of $3.85 billion, or $2.74 per share, up from $3.52 billion, or $2.51 per share, in the same quarter of the previous year. Adjusted earnings were $2.90 per share, surpassing the consensus estimate of $2.77 per share from analysts polled by FactSet. The bank's revenue increased by 16% to $13.05 billion, driven by strong performances in its capital markets and wealth management sectors. However, the personal and commercial banking segment saw a slight decrease in net income due to higher provisions for credit losses, which rose to $532 million from $381 million a year earlier. Additionally, RBC announced a 2% increase in its quarterly dividend to $1.35 per share, reflecting confidence in its financial health and future earnings potential.
Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/royal-bank-canada-reports-fourth-110000667.html ]
Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/royal-bank-canada-reports-fourth-110000667.html ]
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